NAI Commercial is pleased to announce the sale of Best Western Plus Downtown Vancouver Hotel on 718 Drake Street, Vancouver by Vice President of NAI Commercial, Aleem Thaver. The transaction is approximately $40 million.
144-room hotel conveniently located in the prime area of Downtown Vancouver facing Granville Bridge and nearby all the amenities.

We are excited to report another strong year in both multi-family and land development sales. As expected, the number of available properties for sale remains limited, which continues to drive prices higher. We believe the trend of a continuously evolving development market as well as a low inventory of rental buildings will continue in 2016. Real estate headlines are likely to remain dominated by the topic of...

Ken Kiers and Don MacDonald of NAI Commercial – Langley has recently sold an Office & Retail Building with 26 units on 6820-188th Street, Surrey, British Columbia for $7,600,000. The building size is 28,000 SF on 1.413 acres. This 6 year old building is located in a high density neighborhood in the busy Clayton Area of Surrey, BC.

What inning is the recovery in?
Is the market overheating?
Is there finally light at the end of the economic tunnel?
As tapering ends, will rates finally rise?
What are banks doing with all their money?
How vulnerable are cap rates?
Update on oil prices.

Doug O’Neill of NAI Commercial – Vancouver has recently sold a Distribution Facility with 13,000 SF building size on 2.25 acres on 1659 Fosters Way, Delta, British Columbia for $4,700,000. The freestanding building is located in the highly sought after industrial area of Annacis Island, Delta.

The big questions on everyone’s mind are, “What do low oil prices mean?” and “Will they remain low?” The volatility of crude prices has increased since 1994. From 1964-1993, the standard deviation of real crude prices was $24 per barrel. In contrast, the standard deviation of prices for the most recent 20 years was $31 per barrel. In the
first quarter of 2008, immediately before the Great Recession, real oil prices increased 41%, from $104 per barrel to $146 per barrel, a 50-year high. Since 2008, real oil prices have been volatile, with crude plummeting to $43 per barrel in the first quarter of 2009 before rising to $116 by the second quarter of 2011, and subsequently declining to current pricing.View Detail

The first quarter of 2015 closed with little change over the last quarter of 2014. Crude oil is still hovering around $50 a barrel. Since oil has such a strong influence on Canada’s economy, the Canadian dollar seems to have stabilized around $0.80. US.

The Canadian unemployment rate fell through 2014. That trend continued into 2015 with the unemployment rate falling to around 5.5 percent. Locally, we are happy to report that the Vancouver Office Space market is continuing on a steady, level path. Last quarter we reported a vacancy rate Downtown of 10.2 percent; that has increased slightly to 10.5 percent. The Suburban market shows a decrease of just 0.3 percent in vacancies. The Vancouver periphery market has decreased 0.4 percent.

NAI Commercial is pleased to announce the sale of the Surrey Golf Club at 7700 168th Street, Surrey B.C.. Business in Vancouver rated Surrey Golf Club as the busiest public golf course in Metro Vancouver for 2007-2013, with the most rounds played. Surrey Golf Club has been in operation since 1971 and is highly regarded in the golfing community with industry leading rounds, driven by outstanding value.

The 27 hole course totals 163 acres is ideally located on major roadways in the heart of the City of Surrey. The properties are zoned for golf course and other various ancillary uses. The sale included the clubhouse of approximately 10,000 sq.ft. complete with an 80 seat lounge, 150 seat banquet room, pro shop, and administration offices as well as an 11,000 sq.ft. maintenance building. In addition, all equipment and inventory for golf operations, restaurant, and pro shop were included.

NAI Commercial, represented by Team Poitras, is proud to announce the sale of an industrial facility located at 5400 Armand-Frappier in Saint-Hubert, Québec to Groupe immobilier Foodarom inc.

The property of an area of 60,027 sf, sitting on 187,054 sf of land, is located in the Saint-Hubert Industrial Park at the Grande-Allée exit along Highway 30. The new owner will occupy half the facility and will offer from 24,000 to 53,000 sf of warehouse space for lease. More >